The code number implies that this leaflet was prepared in May of Hungary German parody of a Hungarian pengo There is also an alleged German parody of a Hungarian pengo Russian occupation banknote. The banknote has the serial number CA in red on the front and the propaganda text on the back: It is only a piece of paper.
See also the original french text on Bastiat. Introduction In the department of economy, an act, a habit, an institution, a law, gives birth not only to an effect, but to a series of effects. Of these effects, the first only is immediate; it manifests itself simultaneously with its cause — it is seen.
The others unfold in succession — they are not seen: Between a good and a bad economist this constitutes the whole difference — the one takes account of the visible effect; the other takes account both of the effects which are seen, and also of those which it is necessary to foresee.
Now this difference is enormous, for it almost always happens that when the immediate consequence is favourable, the ultimate consequences are fatal, and the converse. Hence it follows that the bad economist pursues a small present good, which will be followed by a great evil to come, while the true economist pursues a great good to come, — at the risk of a small present evil.
In fact, it is the same in the science of health, arts, and in that of morals. It often happens, that the sweeter the first fruit of a habit is, the more bitter are the consequences. Take, for example, debauchery, idleness, prodigality.
When, therefore, a man absorbed in the effect which is seen has not yet learned to discern those which are not seen, he gives way to fatal habits, not only by inclination, but by calculation. This explains the fatally grievous condition of mankind. Ignorance surrounds its cradle: It is only in the long run that it learns to take account of the others.
It has to learn this lesson from two very different masters — experience and foresight. Experience teaches effectually, but brutally. It makes us acquainted with all the effects of an action, by causing us to feel them; and we cannot fail to finish by knowing that fire burns, if we have burned ourselves.
For this rough teacher, I should like, if possible, to substitute a more gentle one. For this purpose I shall examine the consequences of certain economical phenomena, by placing in opposition to each other those which are seen, and those which are not seen. If you have been present at such a scene, you will most assuredly bear witness to the fact, that every one of the spectators, were there even thirty of them, by common consent apparently, offered the unfortunate owner this invariable consolation — "It is an ill wind that blows nobody good.
Everybody must live, and what would become of the glaziers if panes of glass were never broken? The glazier comes, performs his task, receives his six francs, rubs his hands, and, in his heart, blesses the careless child.
All this is that which is seen. But if, on the other hand, you come to the conclusion, as is too often the case, that it is a good thing to break windows, that it causes money to circulate, and that the encouragement of industry in general will be the result of it, you will oblige me to call out, "Stop there!
It is not seen that if he had not had a window to replace, he would, perhaps, have replaced his old shoes, or added another book to his library. In short, he would have employed his six francs in some way, which this accident has prevented.
Let us take a view of industry in general, as affected by this circumstance. And if that which is not seen is taken into consideration, because it is a negative fact, as well as that which is seen, because it is a positive fact, it will be understood that neither industry in general, nor the sum total of national labour, is affected, whether windows are broken or not.
Now let us consider James B.In recent years, China’s Quad rivals have stepped up joint naval drills among themselves, while hosting various high-profile exercises aimed at defending freedom of navigation and overflight in .
THE SPIKE. It was late-afternoon.
Forty-nine of us, forty-eight men and one woman, lay on the green waiting for the spike to open. We were too tired to talk much. OPERATION IRAQI FREEDOM. SGM Herbert A. Friedman (Ret.) Note: Portions of this article were used in the report USAF PSYCHOLOGICAL OPERATIONS, , by Dr.
Daniel L. Haulman, 23 May Images from this article were used with permission in a documentary film for the German Broadcaster ZDF entitled “The Power of Music.”. Abraham Lincoln and Slavery. Featured Book. Michael Burlingame, Abraham Lincoln: A Life (Johns Hopkins Press, ) The Morality and Legality of Slavery.
Opposing the Extension of Slavery. From the River to the Sea Upwardly Mobile Minorcans and Florida's First Beachside Development Sandie A. Stratton and Stacey A. Cannington. The Minorcans of St. Augustine in the late s and early s were no strangers to relocation.
As a follow-up to Tuesday’s post about the majority-minority public schools in Oslo, the following brief account reports the latest statistics on the cultural enrichment of schools in Austria. Vienna is the most fully enriched location, and seems to be in roughly the same situation as Oslo.
Many thanks to Hermes for the translation from nationwidesecretarial.com